Magazine September 12, 2016, Issue

Cash Value

The Money Problem: Rethinking Financial Regulation, by Morgan Ricks (Chicago, 336 pp., $45)

It has been almost a decade since the outbreak of the Great Recession, and its causes are still being debated. This uncertainty over why it occurred does not bode well for the prevention of future recessions. Fortunately, former Treasury official Morgan Ricks’s new book provides a fresh take on the crisis that sharpens our understanding of it. It does so by looking at the design of our monetary system and considering its implications for financial stability. This novel approach is useful not only for thinking about the prevention of future recessions, but also for better understanding what exactly money is.

Ricks

David Beckworth is a senior research fellow with the Program on Monetary Policy at George Mason University's Mercatus Center, and a former international economist at the U.S. Department of the Treasury.

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The Patriot Guard Riders I very much enjoyed Kevin D. Williamson’s article “Thoughts and Prayers in Baton Rouge” (August 15), as I have enjoyed most of his work in National Review. ...
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The Week

‐ So far the candidates have stuck with what they do best: Hillary lying and Trump firing people. ‐ It is clear why Hillary Clinton did not want to give up ...
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ELEGY TO AN ORANGE IN PHOENIX, OR A MODERN WOMAN Fooled, briefly, by its own blossom Into believing it belongs in the barren World it was brought to and has sought to Make its ...

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